CIMB to require SecureTAC authorisation for all fund transfers by end of June

Bank Negara Malaysia had previously instructed that banks migrate from the existing SMS TAC codes to a more secure authorisation method for improved online banking security back in 2022. — AZHAR MAHFOF/The Star

CIMB Bank Bhd has announced a new set of security features that will be implemented by the end of June, including a new requirement that makes SecureTAC approval mandatory for all fund transfers.

This includes transfers made via Favorite transfers such as JomPay, mobile prepaid reloads, and bill payments, among others. SecureTAC approval had previously only been mandatory when making FPX transactions above RM100.